Intapp (NASDAQ:INTA) Trading Up 5.8% – Here’s Why

Intapp, Inc. (NASDAQ:INTA)’s stock price was up 5.8% during trading on Friday . The stock traded as high as $67.12 and last traded at $67.04. Approximately 238,205 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 450,215 shares. The stock had previously closed at $63.34.

Analysts Set New Price Targets

INTA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Intapp from $58.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on Intapp from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Citigroup upped their price objective on Intapp from $63.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Raymond James reiterated a “market perform” rating on shares of Intapp in a research note on Friday, January 3rd. Finally, Barclays increased their price target on shares of Intapp from $44.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Intapp presently has an average rating of “Moderate Buy” and an average price target of $60.64.

Intapp Stock Performance

The stock has a market capitalization of $5.21 billion, a PE ratio of -232.14 and a beta of 0.73. The business’s 50-day moving average price is $62.40 and its 200 day moving average price is $49.18.

Intapp (NASDAQ:INTA) last released its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Intapp had a negative return on equity of 2.08% and a negative net margin of 4.74%. The firm had revenue of $118.81 million for the quarter, compared to analysts’ expectations of $117.88 million. During the same quarter last year, the firm posted ($0.20) EPS. The company’s revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that Intapp, Inc. will post -0.14 earnings per share for the current year.

Insider Activity at Intapp

In other news, COO Donald F. Coleman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $49.23, for a total value of $246,150.00. Following the transaction, the chief operating officer now owns 668,239 shares in the company, valued at approximately $32,897,405.97. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ralph Baxter sold 9,289 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $70.14, for a total transaction of $651,530.46. Following the sale, the director now directly owns 9,441 shares of the company’s stock, valued at $662,191.74. This trade represents a 49.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 387,624 shares of company stock valued at $23,963,304. Insiders own 13.02% of the company’s stock.

Institutional Investors Weigh In On Intapp

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of Intapp by 1,054.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 577 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the period. Quest Partners LLC bought a new stake in Intapp during the 3rd quarter valued at approximately $54,000. Financial Management Professionals Inc. purchased a new position in Intapp in the 3rd quarter worth approximately $57,000. Wilmington Savings Fund Society FSB bought a new position in Intapp in the 3rd quarter worth approximately $64,000. Finally, Advisors Asset Management Inc. grew its holdings in Intapp by 59.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,397 shares of the company’s stock valued at $67,000 after buying an additional 519 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About Intapp

Intapp, Inc, through its subsidiary, Integration Appliance, Inc, provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally. Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; collaboration and content solutions, including Intapp documents, an engagement-centric document management system, and Intapp workspaces; risk and compliance management solutions, such as Intapp conflicts, Intapp intake, Intapp terms, Intapp walls, and Intapp employee compliance; and operational and financial management solutions comprising Intapp Billstream, a cloud-based automated proforma invoice solution, Intapp time, and Intapp terms.